Cloudcoco wins largest ever managed services contract

IT services provider Cloudcoco has been awarded a multi-year contract with a new global customer in the digital transformation services industry.

The AIM-listed group stated the contract was valued at approximately £3.0m over a period of three years, with further upside potential.

Cloudcoco highlighted that it was the largest managed services contract signed by the company since being formed in April 2018 and will see the mystery customer receive "a high availability hosted cloud platform solution" tailored to its needs.

Chief executive Mark Halpin said: "It has been a busy few months from an M&A perspective, so I'm delighted to be able to follow that activity with a new business win of this magnitude. We look forward to working with our new customer to take their IT infrastructure to the next level."

As of 1310 GMT, Cloudcoco shares were up 5.88% at 1.80p.